Section 37, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S19-64G]

As at 6 September 2026. In force from 15 January 1948.

In Reserve Bank (Transfer of Public Ownership) Act, 1948 [A10-BS9]. This text from 15 January 1948. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 37, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S19-64G]. Machine: S19-64G.

37. Power to issue directions.—(1) The Reserve Bank may, by order in writing, direct any borrower to take such measures in relation to the borrowing of money as may be specified in the order, and such person shall comply with the direction within the period specified therein. (2) An order under sub-section (1) shall state the reasons on which it is made and shall be served on the person to whom it is addressed in such manner as may be prescribed.

Defined terms in this text (2)

borrower: Section 2, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S1951P] (In this Act, unless the context otherwise requires,—): "borrower" means any person who has been granted financial assistance by any bank or financial institution or who has given any guarantee or created any mortgage or pledge as security for the financial assistance granted

borrower: 25 more definitions.

Reserve Bank: Section 2, Reserve Bank (Transfer of Public Ownership) Act, 1948 [S1951P] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)

Reserve Bank: 24 more definitions.

Made under this section, or naming it (0)

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Cited by (0)

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Not held (0)

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